If you pay full price for a phone, and are not in contract - you continue mont to month on the same terms as if you were on a contract... if you're buying a phone to replace one that was lost/stolen - you're still under contract until expiration, and the purchase of a phone does not extend the contract in any way.

Unless that's something new that you're paying full price for a phone split into 24 monthly payments in addition to your monthly service...

That's my question. I spoke to a Verizon rep and they said I could go into a V store and would be able to buy phone at full price but get it in monthly payments added to my monthly bill. It shocked me when she said this. Wanted to ask here before I went to a V store.